mechanical technology inc (MKTY) Related Bloomberg News

mechanical technology inc (MKTY) Related Businessweek News

No Related Businessweek News Found

mechanical technology inc (MKTY) Details

Mechanical Technology, Incorporated, through its subsidiaries, provides precision linear displacement solutions, vibration measurement and system balancing solutions, and wafer inspection tools. Its products include electronic gauging instruments for position, displacement, and vibration application in the industrial manufacturing/production markets, as well as the research, design, and process development market; metrology tools for wafer characterization of semiconductor and solar wafers; tensile stage systems for materials testing and precision linear displacement gauges; and engine balancing and vibration analysis systems for military and commercial aircraft. The company serves electronics, aircraft, aerospace, automotive, semiconductor, and research industries. Mechanical Technology, Incorporated markets its precision automated manufacturing, and industrial and academic research and development sector products through direct sales and representatives in the Americas; and through distributors and agents in Europe and Asia, as well as axial turbo machinery directly to end users. Mechanical Technology, Incorporated was founded in 1961 and is headquartered in Albany, New York.

mechanical technology inc (MKTY) Key Developments

Mechanical Technology, Incorporated reported earnings results for the third quarter ended Sep. 30, 2014. Sales for the three months ended September 30, 2014 decreased by $371,000 to $1.9 million from $2.3 million during the three months ended September 30, 2013. This decrease was primarily attributable to reduced activity under the existing U.S. Air Force maintenance contract. Net loss for the three months ended September 30, 2014 was $53,000 or $0.01 per share on a fully diluted basis compared to net income of $164,000 or $0.03 per share on a fully diluted basis during the comparable 2013 period.
The fourth quarter outlook appears positive with its existing backlog. Equally as important for the longer term, is its pipeline of opportunities with its newer product developments, supported by its efforts in sales and operations.

Mechanical Technology, Incorporated reported earnings results for the second quarter ended June 30, 2014. Sales increased by $0.2 million to $2.5 million from $2.3 million during the quarter ended June 30, 2013. This increase was attributable to increases in laser sales and additional shipments of aviation balancing systems. Net income was $0.2 million or $0.03 per share on a fully diluted basis compared to net income of $0.1 million or 0.02 per share on a fully diluted basis during the comparable 2013 period. The release of new orders received from the U.S. Air Force helped to improve sales mix as the company continues to pursue additional military funding to support and replace existing contracts.

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.